Ryan Chittum of Columbia Journalism Review wants to know why CNBC anchor Erin Burnett is calling investors shorting financial companies “unpatriotic.” Jim Cramer defended the practice.
“Look, we know this deepening crisis has everybody, including financial commentators, spooked. And understandably, so.
“But this is stuff you normally find in the darkest corners of Yahoo Finance chat boards, not supposedly reputable financial journalism broadcasts.
“Time to take a deep breath.”
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Not sure why everybody suddenly hates Short Sellers. Just because we're in a Bear maket, we shouldn't blame shorts for that. Let's start by enforcing the law on naked short selling, and more importantly fix our economy.
Chris, this is a little sureal. CNBC is attacking short sellers now when they were heavily protecting them right up to the end. Is this SABEW's version of responsible journalism?
I also wonder, while I am at it, several years ago SABEW held a conference in which short selling was discussed and where Herb greenberb, Joe Nocera, et al. ridiculed all that spoke out in concern over certain tactics of the short seller. Do SABEW members now recognize the error of their ways? has SABEW investigated this screup to learn from their mistakes or, will heads remain buried in the sand once again.
Ultimately, financial media aided in this latest collapse because financial media failed to perform their duties responsibly. Do you yet understand that?